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25 million credit cardholders haven’t changed their go-to credit card in at least 10 years and another 20 million have never changed it, according to a new CreditCards.com report.

The competition among credit card issuers is hotter than ever, said Matt Schulz, CreditCards.com’s senior industry analyst. That is great news for consumers and has led to the most lucrative sign up bonuses and spending rewards in history, especially for those willing to switch cards.

“The truth is that loyalty doesn’t pay when it comes to credit cards,” Schulz said. “It is especially true with rewards because the quickest way to rack up rewards is to sign up for a new card with a big signup bonus. That means that if you haven’t gotten a new card in the last five years or more, you’ve missed out on a tremendous amount of possible rewards.”

Senior citizens are the most loyal: 31% have been using the same card most often for at least a decade and 20% have never changed it.

More than one in four people between the ages of 30 and 49 haven’t changed their favorite credit card in at least six years.

Rewards are Americans’ favorite credit card feature. 35% of all cardholders and 43% of millennial cardholders chose this response. The second-most popular answer overall was “it is accepted most places” (23%), followed by “it has a low interest rate” (21%).

When consumers sign up for a new credit card, Schulz says they should leave old accounts open in order to help their credit scores. That aligns with the main reason preventing cardholders from canceling cards: 44% say it’s because they’re afraid of hurting their credit score. An inability to pay off the remaining balance came in second (26%).